USD/CAD – 30M – BUYAlso there is a ‘Double top chart pattern’ chart pattern is discovered. The chart picture shows ‘Double top chart pattern’. which is a negative pattern signal. The pair is likely to go down.
The currency pair US Dollar/Canadian Dollar (USD/CAD) moves from the bearish trendline upwards
A bullish movement up to the next resistance at 1.36926 is considered certain.
Caution: A possible counter-trend in the direction of support at 1.36600 could happen.
Consider stop-loss settings accordingly.
Also there is a ‘Northern Doji’ candlestick pattern is found. The candles show ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37314 |
| 2nd High | 1.37284 |
| Next High | 1.36926 |
| Current Price | 1.36729 |
| Next Low | 1.36600 |
| 2nd Low | 1.36342 |
| 3rd Low |
1.36926 – 1.37284 – 1.37071 – 1.36676 – 1.36704 – 1.36692
Trading Signals: FOREX – USD – USD/CAD – CAD – Northern Doji